Short

Bitcoin Breaking News Short!

Updated

Bull mania is over.

United we stop this liquidation frenzy.

Top 2 Bitcoin Bear trade to start now
(Best since 2010 may be who entered >$4900)

Note

thepatternsite.com/bt.html

Note

the most prominent event for bitcoin is stil Sep15 crash and China FUD
trends.google.com/trends/explore?q=bitcoin

ask the trolls where "new money is coming in" from. All bitcoin transactions are public. It would be easy to proof if they could.

Note

Bitcoin did not grow at all in the last 5 month. It did decrease!
The real peak of bitcoin usage was Mai 23 2017 at $2500. And this is the very least we will go back to soon.

Note

blockchain.info/charts/n-unique-addresses?timespan=all

Note

sorry for today's bulls burning their fortunes.

Note

i rarely like daytrader's tight stop losses nor suggesting them. but it may be worth it to add some extra positions stopping above the megafon and the rising wedge. or little above the 4453 high from a few days ago.

Note

this may also be a triangle on the 50% retracement from $4453 indicating this may be fake and break just like other horizontal resistances

Note

faster trend angle are usually less sustainable and weaker than slower ones. Of course the time frame matters for few hours only. But on every timeframe i would expect the slower trend to to win more likely. (So 1. the green one down. Or 2. If it went to 4450 now, then i would expect it to reverse nearly fully into a peak candle, bearish candle consiting of long wick up mainly only. Or 3. if pink would win later at at lower angle, then it would have a hard time challenging the megaphone again and may bounce again)

Note

if it is a flag then then maybe there was particial rise and it is trying to sneak out of it?

Note

4380 may stay difficult but as always more bulls could be lured into keeping the price this high for their friday night fever mood. (On weekends no bad news may be published as i wrote before)
Some may still be willing and able to gamble because they found unexpected wealth in january to mai 2017. Which was expectable to happen. But part of the crypto space is gamblers who didnt really believe in it and still tried it. Some of them would even participate an unsustainable pyramid/ponzi-scheme, without a novel usability driving the price. If their crypto investment grew 50000% unexpected, then they may felt lucky and invited to gamble. And some will not stop gambling until they got an amount again as small as they were used to. Once the price drops a lot they will reveal their real convindence in bitcoin.

patience pays.
tradingview needs mirror/symmetry features

Note

while bitcoin usage is on a downtrend since mai as i showed above.
Gamblers have remained in denial. Despite fears have grown (bubble, china closing exchanges, ico regulation globally, unnatrually high trading volumes and volatilty burning reasonable investors and scaring them away. (Examples Ripple , Ethereum, Bitshares were shortsqueezing up to 100000% earlier this year)

Trust in Bitfinex was not recovered since 2016 but users stayed lacking alternatives. Same for Poloniex. Poloniex tried very hard to scare everyone and keeps doing so. Both feature USDT owned by Bitfinex. There are about 100 times more USDT than in 2016. That is half a billion, which almost everyone actually expects to be a scam and go to zero.

BitConnect has multilevel / pyramid scheme marketing, it pays up to 120% POS.
It grew from zero to 1 billion in a few month coinmarketcap.com/currencies/bitconnect/ despite no big exchange accepted it.

It all adds up. Once the gamblers get burned too much they are gone with their last USD. There are not really 145 billion total marketcap, but it is a bubble. Once ICO tokes crash, USDT, BitConnect and what not, then Bitcoin and Ethereum will crash. And drag all other nice Altcoins back down with them, closer to where they came from.

Note

another "gambling indicator" may be clams. it is small but totally nuts whim of poloniex.

The State of Gambling in Crypto ( indicator: Clam / Clams )

. There is a buy wall of 500 bitcoins right at the ask price since many weeks despite nothing is happening on this market really. (But some people who did short it are trapped into high interest rate now or buying too high if they want to leave poloniex for good)

Note

Maybe you read it before, but the splits are signaling the end of bitcoin's dominance.

post fork BITCOIN exit pump scratching below$5000 BCH alomst 40%

The splits are vital to happen. But BTC does no long exist as it did and it gets weaker with every split and more likely to be surpassed by other.
The second split in a few weeks and following ones can make this obvious and decrease the price.

Note

head and shoulders may be breaking

Note

Note

the bitcoin CRASH WEDGE is back! 3x same shape

fineregex

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.